US Non-Farm Payrolls blew through expectations, almost doubling expectations, delivering a positive message to markets. The US economic data has been much more positive than expected, in terms of growth and inflation. There have been increased hostilities between Iran and the US, with live fire exchanged, in the Strait of Hormuz. There is still no peace agreement, but negotiations appear to be ongoing. The EU/US trade war looks set to erupt, following the failure of the EU to fulfil their previous agreement, with the US. Trump has given them until their 250th Birthday Party, July 4th, or suffer severe consequences. The EUR pushed up to 1.1770, while the GBP broke above 1.3600, following the trouncing of the Labour Government in local elections.
Commodity currencies close out the week on a strong note, with the AUD approaching 0.7250, while the NZD hit 0.5950. The Middle East war and the energy crises will continue to dominate markets, although economic data concerning growth and inflation, will play an important role.
